Kellogg (NYSE:K) Updates FY 2020 After-Hours Earnings Guidance

Kellogg (NYSE:K) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.84-3.88 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.80.

NYSE:K traded up $0.57 during mid-day trading on Friday, reaching $67.71. The stock had a trading volume of 1,567,360 shares, compared to its average volume of 2,095,348. The stock has a 50-day simple moving average of $68.58 and a two-hundred day simple moving average of $64.92. The stock has a market capitalization of $22.89 billion, a PE ratio of 24.18, a P/E/G ratio of 3.89 and a beta of 0.55. Kellogg has a 12 month low of $51.34 and a 12 month high of $71.05. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.72 and a quick ratio of 0.46.

Kellogg (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Kellogg had a net margin of 7.07% and a return on equity of 41.84%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Equities analysts expect that Kellogg will post 3.82 EPS for the current year.

A number of analysts have weighed in on K shares. Zacks Investment Research cut shares of Kellogg from a hold rating to a sell rating and set a $69.00 target price on the stock. in a research note on Tuesday. BMO Capital Markets raised shares of Kellogg from a market perform rating to an outperform rating and boosted their target price for the stock from $70.00 to $79.00 in a research note on Thursday, January 9th. Bank of America raised shares of Kellogg from a neutral rating to a buy rating and boosted their target price for the stock from $53.00 to $75.00 in a research note on Friday, December 20th. Jefferies Financial Group started coverage on shares of Kellogg in a research note on Wednesday, January 22nd. They set a hold rating and a $74.00 target price on the stock. Finally, Edward Jones raised shares of Kellogg from a hold rating to a buy rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $68.93.

In other news, CEO Steven A. Cahillane bought 16,810 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $65.33 per share, for a total transaction of $1,098,197.30. Following the completion of the acquisition, the chief executive officer now directly owns 50,565 shares in the company, valued at $3,303,411.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $70.61, for a total transaction of $7,061,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 600,000 shares of company stock worth $40,410,000. 0.09% of the stock is owned by company insiders.

Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Earnings History and Estimates for Kellogg (NYSE:K)

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